Agilysys, Inc. (NASDAQ:AGYS) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its holdings in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 174.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,017 shares of the software maker's stock after purchasing an additional 128,475 shares during the period. Ameriprise Financial Inc. owned 0.72% of Agilysys worth $26,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Synergy Asset Management LLC boosted its position in Agilysys by 19.1% during the fourth quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker's stock worth $11,157,000 after acquiring an additional 13,785 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Agilysys by 381.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker's stock worth $57,000 after acquiring an additional 336 shares during the last quarter. Atria Investments Inc acquired a new stake in Agilysys during the fourth quarter worth approximately $315,000. Shaker Investments LLC OH acquired a new stake in Agilysys during the fourth quarter worth approximately $1,084,000. Finally, Conestoga Capital Advisors LLC boosted its position in Agilysys by 25.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 356,239 shares of the software maker's stock worth $46,920,000 after acquiring an additional 71,168 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC cut their price target on shares of Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. UBS Group set a $100.00 price target on shares of Agilysys in a research note on Wednesday, March 5th. Oppenheimer cut their price target on shares of Agilysys from $135.00 to $90.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Craig Hallum cut their price target on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Agilysys Trading Down 3.5%

Shares of AGYS stock traded down $2.98 during mid-day trading on Monday, reaching $83.02. The company's stock had a trading volume of 513,746 shares, compared to its average volume of 261,471. The company's 50 day simple moving average is $74.28 and its 200-day simple moving average is $98.95. Agilysys, Inc. has a 12-month low of $63.71 and a 12-month high of $142.64. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.32 billion, a PE ratio of 103.78 and a beta of 0.58.

Insider Activity

In related news, Director John Mutch sold 750 shares of Agilysys stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the sale, the director now owns 31,904 shares of the company's stock, valued at $2,403,328.32. The trade was a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 19.30% of the company's stock.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.